Oil futures appeared to shrug off President Donald Trump’s promise Tuesday to develop a financial rescue package for oil and gas producers after Monday’s staggering selloff amid plunging demand and Continue Reading
The Trump administration is considering offering federal stimulus funds to embattled oil-and-gas producers in exchange for government ownership stakes in the companies or their crude reserves, according to people familiar Continue Reading
Halliburton Co. is cutting spending, salaries and jobs as the fracking behemoth navigates what is shaping up to be the worst-ever oil bust. The company set full-year 2020 capital outlays at Continue Reading
U.S. oilfield services giant Halliburton ( HAL.N ) on Monday reported a $1 billion first-quarter loss on charges and outlined the largest budget cut yet among top energy companies as Continue Reading
Canadian oil companies have begun shutting down steam-driven oil sands production projects as prices continue to fall, Reuters reports , noting the move could have dire long-term consequences for the Continue Reading
The telephone lines have been ringing at Adler Tank Rentals in Texas as oil companies found a new use for steel tanks that had been left idle when shale producers Continue Reading
US President Donald Trump said Monday he still plans to fill the Strategic Petroleum Reserve to take advantage of record-low oil prices, but he gave no new details on how Continue Reading
The world’s biggest independent oil storage company said that space for traders to store crude and refined fuels has all but run out as a result of the fast-expanding glut Continue Reading
This week began with a bang for the oil markets. On Sunday the members of OPEC+ struck a historic deal to slash production by a whopping 9.7 million barrels in Continue Reading
Despite the historic OPEC+ production cut deal, available oil storage capacity around the world is running thin as global oil demand continues to crumble amid lockdowns and travel restrictions in Continue Reading
